FIFA presidential candidate Chung Mong-joon plans to sue Blatter for embezzlement

Chung Mong-joon, a member of FIFA's Executive Committee for 17 years until 2011 and a candidate for the governing body's presidency, is punching back.

Speaking at the Leaders Sport Business Summit in London on Wednesday, Chung threatened to sue outgoing FIFA president Sepp Blatter for more than $100 million after being advised by his Swiss lawyer that he could sue the kingpin for "damages and compensation proportionate to the damage he inflicted on FIFA."

The threat comes one day after Chung announced he's facing a 15-year suspension from FIFA's Ethics Committee stemming from support of South Korea's 2022 World Cup bid, which he believes is a ploy to prevent him from running for FIFA's presidency.

"Like the dungeon in the FIFA HQ, FIFA has become a very secretive place," Chung said, according to Owen Gibson from the Guardian. "In an age when we can find out the salary of a company president or a PM any time, we still don't know president Blatter's salary.

"For Blatter to get paid without authorisation of the executive committee is embezzlement. I plan to sue Mr. Blatter on his embezzlement in court."

Chung said the $100-million figure is based on a settlement FIFA paid in 2006 when MasterCard brought a court case over a sponsorship deal involving the governing body and Visa. He also said if his lawsuit against Blatter is successful, any damages will be invested by FIFA in football development.

"Mr. Blatter, in short, is a hypocrite and a liar," Chung said. "Whenever I speak to football leaders, most of them agree that Mr. Blatter is corrupt. FIFA is in total meltdown and his dynasty is coming to an end, yet still few dare to speak up against him."

Switzerland's Office of the Attorney General opened criminal proceedings against Blatter at the end of September "on suspicion of criminal mismanagement as well as - alternatively - on suspicion of misappropriation" as part of a wider investigation into the corruption scandal that has engulfed FIFA.

Related: Swiss authorities open criminal investigation against Sepp Blatter

The development was described by Swiss broadcasting company Schweizer Radio und Fernsehen as the "first concrete evidence" pertaining to Blatter's involvement in the corruption scandal. One week later, Coca-Cola and McDonald's called for his immediate resignation.

Related: Coca-Cola, McDonald's call for Sepp Blatter to step down immediately as FIFA president

FIFA is set to elect a new president on Feb. 26.